Author(s):
International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date:
01
January
1991

ISBN: 9781451930801

The welfare effects of mitigating the costs of inflation are examined. In a model where money reduces transactions costs, a fall in inflation costs is equivalent to financial innovation. This can be caused by payin...

Publication Date:
08
August
2005

ISBN: 9781498331319

Broad economic institutions are of fundamental importance for sustained economic growth. Changing these institutions is difficult, particularly for outsiders. But this does not mean that there is no role for the Fu...

DOI: http://dx.doi.org/10.5089/9781498331319.007

ISBN: 9781498331319

Broad economic institutions are of fundamental importance for sustained economic growth. Changing these institutions is difficult, particularly for outsiders. But this does not mean that there is no role for the Fu...

Publication Date:
24
July
1995

DOI: http://dx.doi.org/10.5089/9781451824902.002

ISBN: 9781451824902

This paper describes economic developments in the Republic of Moldova during the 1990s. In February 1993, the Executive Board of the IMF approved a purchase of resources equivalent to SDR 13.5 million under the com...

Publisher: INTERNATIONAL MONETARY FUND

Publication Date:
01
January
1991

DOI: http://dx.doi.org/10.5089/9781451930801.024

ISBN: 9781451930801

The welfare effects of mitigating the costs of inflation are examined. In a model where money reduces transactions costs, a fall in inflation costs is equivalent to financial innovation. This can be caused by payin...

DOI: http://dx.doi.org/10.5089/9781451855784.001

ISBN: 9781451855784

The recent Boskin Commission Report (1996) underscores a significant upward bias in CPI measurement in the United States. This may result in excessive cost-of-living adjustment (COLA) of some entitlements in the fe...

DOI: http://dx.doi.org/10.5089/9781513511740.001

ISBN: 9781513511740

We argue that in an economy with downward nominal wage rigidity, the output gap is
negative on average. Because it is more difficult to cut wages than to increase them, firms
reduce employment more during downturns...